Can the Aira Fitness Lease be assigned without notice to the Guarantor?
Aira_Fitness Franchise · 2025 FDDAnswer from 2025 FDD Document
The Lease may be assigned, modified or amended in whole or in part or the Premises may be sublet in whole or in part without notice to Guarantor and without releasing Guarantor or affecting Guarantor's obligations under this Guaranty in any way.
Franchisor's Affiliate may, from time to time, and without notice to Guarantor, release any security that Franchisor's Affiliate may have for the obligations of Franchisee under the Lease or accept security therefor; add, substitute or release guarantors; or compromise or settle any amount due or owing; or claimed to be owing under the Lease; and no such action by Franchisor's Affiliate or any other action which Franchisor's Affiliate may take or omit in connection with the Lease shall affect this Guaranty or Guarantor's obligations in any way.
Guarantor expressly waives notice of acceptance of this Guaranty and diligence of collecting any sums due under the Lease or the taking of any action with reference to any default under the Lease or to any liability under this Guaranty.
Franchisor's Affiliate has no duty to disclose to Guarantor any information it receives regarding the financial status of Franchisee, whether or not such information indicates that the risk of Guarantor under this Guaranty has been or may be increased. Guarantor assumes full responsibility for being and keeping informed of Franchisee's financial condition, Franchisee's performance under the Lease, and Franchisee's use and operation of the Premises.
Guarantor hereby subordinates all its claims for payment of any indebtedness of Franchisee to Guarantor, if any, to Franchisor's Affiliate's right to receive payment from Franchisee of all sums due under the Lease and waives any rights it may have to participate in any security for the Lease or to enforce any remedy which Franchisor's Affiliate may have against Franchisee or any other person or entity that may now or hereafter by liable on the Lease.
Source: Item 23 — **RECEIPTS (FDD pages 59–254)
What This Means (2025 FDD)
According to Aira Fitness's 2025 Franchise Disclosure Document, the lease may be assigned, modified, or amended without notice to the guarantor. This means that Aira Fitness has the right to make changes to the lease agreement, including assigning it to another party or modifying its terms, without informing the guarantor. The guarantor's obligations under the guaranty will remain in effect regardless of these changes.
Additionally, Aira Fitness's affiliate has the option to release any security held for the franchisee's obligations under the lease, accept security, add, substitute, or release guarantors, or compromise or settle any amount due under the lease, all without notifying the guarantor. These actions by Aira Fitness or its affiliate will not affect the guaranty or the guarantor's obligations in any way.
The guarantor also waives the right to receive notice of acceptance of the guaranty, diligence in collecting sums due under the lease, or any action taken regarding a default under the lease or liability under the guaranty. Furthermore, Aira Fitness's affiliate has no obligation to disclose any information about the franchisee's financial status to the guarantor, even if it indicates an increased risk for the guarantor. The guarantor is responsible for staying informed about the franchisee's financial condition and performance under the lease.
Finally, the guarantor subordinates all claims for payment of any franchisee indebtedness to the guarantor to Aira Fitness's affiliate's right to receive payment from the franchisee for all sums due under the lease. The guarantor also waives any rights to participate in any security for the lease or to enforce any remedy that Aira Fitness's affiliate may have against the franchisee or any other liable party.